Updates, advisories and surprises

(9:24 PM ET) SAN FRANCISCO (MarketWatch) -- Ventas Inc.
VTR, +1.10%
Thursday evening said third-quarter net income rose, as revenue gained, to $32.2 million, or 31 cents a share, from $28.7 million, or 28 cents a share, during the same period in the prior year. Analysts polled by Thomson First Call had expected a per-share result of 28 cents. The healthcare real estate investment trust said quarterly normalized per-share funds from operations rose to 64 cents from 54 cents in the prior year. Ventas said quarterly revenue rose to $109.7 million from $95.9 million in the prior year, while Wall Street had expected $104 million. Ventas raised its view for 2006 normalized funds from operations to a range of $2.41 to $2.43 per share, compared with its prior view of $2.25 to $2.27. For 2007, the company sees funds from operations of $2.70 to $2.75 per share.

UPDATE: Silicon Image quarterly profit falls 19%

(8:03 PM ET) SAN FRANCISCO (MarketWatch) -- Silicon Image Inc.
SIMG
after Thursday's closing bell reported third-quarter net earnings of $8.04 million, or 9 cents a share, down 19% from $9.9 million, or 12 cents a share, during the year-ago period. Excluding stock-based compensation, among other items, the Sunnyvale, Calif.-based semiconductor company said earnings were 24 cents a share. Revenue was $78.3 million vs. $56 million. Analysts polled by Thomson First Call had forecast third-quarter earnings of 21 cents a share on revenue of $78 million. Gross margins were 58.2% for the quarter. Additionally, Silicon Image said it expects fourth-quarter revenue to decrease by 3% to 5% sequentially. Pro forma gross margins are expected to be 57% to 59% for the quarter. For 2006, Silicon Image said it expects revenue to rise 32% to 34% vs. 2005. The company had previously forecast revenue to rise 30% to 35% for the year. (Updates to include the company's earnings excluding items.)

Standard Pacific quarterly earnings fall

(7:56 PM ET) SAN FRANCISCO (MarketWatch) -- Standard Pacific Corp.
SPF, +1.24%
late Thursday said third-quarter net earnings dropped to $30.8 million, or 47 cents a share, from $96.4 million, or $1.37 a share, in the same period last year, due to weakening demand for new homes. This year's results include a non-cash pretax impairment charge of $48.7 million, or 46 cents a share, after tax, the Irvine, Calif.-based homebuilder said. Additionally, the company wrote off $10 million of option deposits and preacquisition costs for abandoned projects, or 9 cents a share after tax. Analysts polled by Thomson First Call had expected per-share earnings of 68 cents. Homebuilding revenue fell to $834.1 million from $936.7 million, while revenue from financial services rose to $5.91 million from $4.75 million. The company said its third-quarter backlog was valued at $1.6 billion, down 39% from the backlog value last year. The company sees fourth-quarter per-share earnings of 90 cents to $1, on homebuilding revenue of $1.1 billion. For 2006, Standard Pacific sees per-share earnings of earnings of $4.20 to $4.30, on homebuilding revenues of $3.8 billion.

Oplink shares rise as company swings to a profit

(7:00 PM ET) SAN FRANCISCO (MarketWatch) -- Oplink Communications Inc.
OPLK
shares rose 4% to $21.10 in after-hours trading Thursday. The photonic components company said it swung to first-quarter net income, as sales gained, of $2.76 million, or 12 cents a share. During the same period in the prior year, the net loss was $440,000, or 2 cents a share. Oplink said quarterly revenue to $19.7 million from $10.7 million in the prior year. For the second quarter, Oplink sees earnings per share of 13 cents to 14 cents, or 18 cents to 19 cents before items, and sequential revenue growth of 12%.

Openwave posts preliminary revenue; sees restatement

(6:59 PM ET) SAN FRANCISCO (MarketWatch) -- Shares of Openwave Systems Inc.
OPWV
were down 1.7% at $9.40 in after-hours trading on Thursday. After the closing bell, Openwave reported preliminary first-quarter revenue of $92.1 million compared with $103.3 million during the year-ago period. Analysts polled by Thomson First Call are currently forecasting first-quarter revenue of $88 million. The Redwood City, Calif.-based software company said its internal investigation of stock option practices hasn't found evidence of fraud or manipulation in the granting of the awards. Also, the special committee has determined that the measurement dates for accounting purposes for certain option grants differ from the recorded grant dates for certain awards. While the review is not yet finalized, the company said it will likely restate its financial statements as a result.

Frontier Airlines quarterly earnings fall

(6:57 PM ET) SAN FRANCISCO (MarketWatch) -- Frontier Airlines Inc.
FRNT
late Thursday said second-quarter net income fell to $509,000, or 1 cent a share, from $6.91 million, or 18 cents a share, in the same period last year, as expenses rose. The Denver-based air carrier said revenue rose 19% to $309.9 million from $258.4 million.

Portalplayer shares fall on quarterly earnings

(6:42 PM ET) SAN FRANCISCO (MarketWatch) -- Portalplayer Inc.'s
PLAY, -0.46%
shares fell 2% to $11.25 in after-hours trading Thursday. After the bell, the San Jose, Calif.-based maker of chip technology for digital entertainment devices said third-quarter net earnings dropped to $1.49 million, or 6 cents a share, from $10.3 million, or 40 cents a share, in the same period last year. Excluding stock-based compensation, among other items, earnings were 13 cents a share. Analysts polled by Thomson First Call had expected per-share earnings of 12 cents. Revenue fell 40% to $34.8 million from $57.9 million. Analysts had forecast revenue of $37 million. The company expects fourth-quarter results between a per-share net loss of 3 cents and per-share net earnings of 5 cents, on revenue of $31 million to $38 million. Excluding items, Portalplayer sees per-share earnings for the period of 5 cents to 14 cents.

CORRECT: Sohu.com quarterly earnings fall

(6:32 PM ET) SAN FRANCISCO (MarketWatch) -- Sohu.com Inc.
SOHU, +2.51%
after Thursday's closing bell said third-quarter net earnings fell to $6.6 million, or 17 cents a share, from $8.03 million, or 21 cents a share, during the year-ago period, as expenses rose. Excluding share-based compensation, the China-based online media and search company said earnings were 22 cents a share. Revenue rose 29% to $35.4 million from $27.4 million a year ago. Analysts polled by Thomson First Call had forecast third-quarter earnings of 16 cents a share on revenue of $34 million. Sohu.com said it expects fourth-quarter pro forma earnings of 20 cents to 22 cents a share on revenue of $34 million to $36 million. (Corrects item to reflect that the consensus analysts' estimate was for the third quarter.)

Visicu shares rise; company raises revenue growth view

(6:28 PM ET) SAN FRANCISCO (MarketWatch) -- Visicu Inc.
EICU
shares rose 26% to $9.50 in after-hours trading Thursday. The healthcare information technology company said third-quarter net income fell, as the company recorded an income tax expense, to $2.5 million, or 7 cents a share, from $11.4 million, or 42 cents a share, during the same period in the prior year. Visicu said quarterly revenue rose to $8.16 million from $4.87 million in the prior year. The company said it now sees 2006 revenue growing 63% to 64%, compared with its prior view of 53% to 56%.

Hittite Microwave shares fall after earnings release

(6:23 PM ET) SAN FRANCISCO (MarketWatch) -- Hittite Microwave Corp.'s
HITT
shares fell 10% to $38.50 in after-hours trading Thursday. After the bell, the Chelmsford, Mass.-based maker of integrated circuits and modules reported third-quarter net profit of $11.6 million, compared with $5.11 million in the same period last year. The company posted earnings available to shareholders of $11.6 million, or 37 cents a share, vs. $5 million, 17 cents a share, last year. Analysts polled by Thomson First Call had expected per-share earnings of 34 cents. Revenue rose 64% to $34.6 million from $21.2 million. Analysts had forecast revenue of $31.8 million. The company expects fourth-quarter per-share net income 33 cents to 34 cents, on revenue of $34 million to $35 million.

Cohu shares rise 11% following quarterly results

(6:13 PM ET) SAN FRANCISCO (MarketWatch) -- Shares of Cohu Inc.
COHU, -17.42%
were up 11% at $20.90 in after-hours trading on Thursday. After the closing bell, Cohu reported third-quarter net earnings of $4.2 million, or 18 cent a share, compared with $9.56 million, or 42 cents a share, during the year-ago period. The Poway, Calif.-based maker of semiconductor test-handling equipment posted revenue of $74.8 million vs. $66.8 million. Analysts polled by Thomson First Call had forecast third-quarter earnings of 12 cents a share.

Interphase shares tumble on third-quarter results, outlook

(6:10 PM ET) SAN FRANCISCO (MarketWatch) Interphase Corp.
INPH, +3.54%
shares tumbled 19% in after-hours trade after the Plano, Texas-based networking company reported third-quarter net earnings of $175,000, or 3 cents a share. In the same quarter last year, the company reported a net loss of $912,000, or 15 cents a share. Revenue rose 12% to $7.76 million from $6.92 million. "We anticipate that the ongoing merger activity within our telecommunications customer base is likely to create some 'lumpiness' in revenues over the next few quarters," said Greg Kalush, president and chief executive, in a statement.

Netgear shares rise as quarterly revenue gains

(6:07 PM ET) SAN FRANCISCO (MarketWatch) -- Netgear Inc.
NTGR, -0.09%
shares rose 14% to $26.90 in after-hours trading Thursday. The networking products company said third-quarter net income fell, as the provision for income taxes rose, to $7.98 million, or 23 cents a share, from $8.59 million, or 25 cents a share, during the same period in the prior year. Netgear said quarterly revenue rose to $151.6 million from $111.3 million in the prior year. The company sees revenue for the fourth quarter of $153 million to $160 million.

Emulex quarterly earnings fall

(6:06 PM ET) SAN FRANCISCO (MarketWatch) -- Emulex Corp.
ELX, +0.00%
after Thursday's closing bell said first-quarter net earnings fell to $15 million, or 17 cents a share, from $16.4 million, or 19 cents a share, in the same period last year, as sales dropped and expenses rose. Excluding stock-based compensation expense, among other items, the Costa Mesa, Calif.-based provider of storage networking connectivity products said earnings were 25 cents a share. Revenue fell 2% to $102.3 million from $104.4 million. For the second quarter, Emulex sees per-share earnings of 15 cents to 17 cents, or 25 cents to 27 cents excluding items, on revenue of $115 million to $119 million.

BJ's Restaurants quarterly profit rises 2.7%

(6:01 PM ET) SAN FRANCISCO (MarketWatch) -- BJ's Restaurants Inc.
BJRI, +0.06%
late Thursday reported third-quarter net earnings of $2.37 million, or 10 cents a share, up 2.7% from $2.31 million, or 10 cents a share, last year. Revenue at the Huntington Beach, Calif.-based company rose to $61.8 million from $47.6 million. Analysts polled by Thomson First Call had forecast a per-share profit of 10 cents on revenue of $60 million. Same-store sales increased 5.3% in the quarter. The company said it is still targeting capacity growth of 20% to 25% in fiscal 2007, and plans to open as many as 13 new restaurants.

Lattice Semiconductor swings to quarterly income; revenue up

(5:58 PM ET) SAN FRANCISCO (MarketWatch) -- Lattice Semiconductor Corp.
LSCC, -1.99%
after Thursday's closing bell said it swung to third-quarter net income, as revenue gained, of $897,000, or a penny a share. During the same period in the prior year, the net loss was $7.09 million, or 6 cents a share. Before items, the quarterly per-share result swung to a gain of 4 cents. In the prior year, the pro forma per-share loss was 3 cents. Analysts polled by Thomson First Call had expected per-share income of 5 cents. Lattice said quarterly revenue rose to $63.5 million from $53.4 million in the prior year, while analysts had expected $64 million. The company expects sequential quarterly revenue growth will be 0% to 4%.

Massey Energy quarterly earnings rise 7.6%

(5:57 PM ET) SAN FRANCISCO (MarketWatch) -- Massey Energy Co.
MEE, -31.43%
after Thursday's closing bell reported third-quarter net earnings of $24.2 million, or 30 cents a share, up 7.6% from $22.5 million, or 28 cents a share, during the year-ago period. Earnings before interest, taxes, depreciation and amortization were $104.2 million compared with $99.4 million a year ago. The Richmond, Va.-based coal company posted total revenue of $555.9 million vs. $533.7 million. Analysts polled by Thomson First Call had forecast third-quarter earnings of 4 cents a share on revenue of $522 million. In addition, Massey said it now expects 2006 shipments of about 39 million tons, average cash cost per ton of between $41.75 and $42.25, and average sales price per ton of between $48.50 and $49. Other income is projected to be between $75 million and $85 million for the full year, including the gain from the sale of the Falcon reserves, the company said.

Varian quarterly earnings rise

(5:51 PM ET) SAN FRANCISCO (MarketWatch) -- Varian Semiconductor Equipment Associates Inc.
VSEA
after Thursday's closing bell said fourth-quarter net earnings rose to $32.9 million , or 58 cents a share, from $13.6 million, or 24 cents a share, in the same period last year, on the back of strong sales. The Gloucester, Mass.-based maker of chip processing equipment said revenue rose 46% to $213.1 million from $146.3 million. Varian expects first-quarter per-share earnings of 55 cents to 61 cents, on revenue of $215 million to $225 million.

Denny's swings to quarterly income on real estate sales

(5:27 PM ET) SAN FRANCISCO (MarketWatch) -- Denny's Corp.
DENN, +1.38%
after Thursday's closing bell said it swung to third-quarter net income, as results gained $67 million from real estate asset sales, of $25.5 million, or 26 cents a share. During the same period in the prior year, the restaurant operator's net loss was $3.43 million, or 4 cents a share. Denny's said quarterly revenue rose to $258.2 million from $248.7 million in the prior year, while Wall Street had expected $252 million. Denny's added that its prior earnings outlook is "no longer relevant" due to the asset sale gains, among other items.

Intuitive Surgical shares rise on quarterly results

(5:21 PM ET) SAN FRANCISCO (MarketWatch) -- Shares of Intuitive Surgical Inc.
ISRG, -1.20%
were up 2% at $114.18 in active trading after the bell on Thursday. Intuitive Surgical reported third-quarter net earnings of $17.3 million, or 45 cents a share, compared with $20.7 million or 55 cents a share, during the year-ago period. Pro forma earnings were 57 cents a share. The Sunnyvale, Calif.-based maker of surgical robotics posted revenue of $95.8 million vs. $60.9 million.

Allegheny Energy nearly triples profit

(5:17 PM ET) SAN FRANCISO (MarketWatch) -- Power provider Allegheny Energy Inc.
AYE, -0.79%
reported late Thursday third-quarter net income of $110.2 million, or 65 cents a share, up from $35.7 million, or 21 cents, a year ago. Adjusted earnings from continuing operations rose to $94 million, or 56 cents a share, from $74.8 million, or 45 cents, a year ago. Operating revenue fell to $816.6 million from $845.1 million. Analysts polled by Thomson First Call said they expected the Greensburg, Pa.-based company to earn 54 cents a share on $951 million in revenue. Ahead of the report, Allegheny Energy shares fell 0.9% to close at $42.48.

Micrel quarterly income rises; revenue gains

(5:16 PM ET) SAN FRANCISCO (MarketWatch) -- Micrel Inc.
MCRL, -0.29%
after Thursday's closing bell said third-quarter net income rose, as revenue gained, to $11.8 million, or 15 cents a share, from $7.72 million, or 9 cents a share, during the same period in the prior year. Analysts polled by Thomson First Call had expected per-share income of 11 cents. The communications technology company said quarterly revenue rose to $73.5 million from $62.5 million in the prior year, while analysts had expected $71 million. For the fourth quarter, Micrel sees earnings per share of 11 cents to 13 cents, and revenue of $67 million to $70.5 million. Analysts are looking for quarterly per-share income of 12 cents on revenue of $73 million.

Mercury Computer swings to quarterly loss; expenses rise

(5:05 PM ET) SAN FRANCISCO (MarketWatch) -- Mercury Computer Systems Inc.
MRCY, +0.86%
after Thursday's closing bell said it swung to a first-quarter net loss, as revenue declined and operating expenses rose, of $11.7 million, or 55 cents a share. During the same period in the prior year, net income was $3.07 million, or 14 cents a share. Before items, the per-share result swung to a loss of 17 cents. In the prior year's period, pro forma per-share income was 27 cents. Analysts polled by Thomson First Call had expected a quarterly per-share loss of 14 cents. Mercury said quarterly revenue fell to $48.9 million from $66.9 million in the prior year, while analysts had expected $51 million. For the second quarter, the company sees a per-share loss of 43 cents to 48 cents, or 19 cents to 23 cents before items. Mercury expects second-quarter revenue of $52 million to $54 million. Analysts are looking for a quarterly per-share loss of a penny on revenue of $56 million.

Akamai's net drops 95%, sales up 47%

(5:01 PM ET) SAN FRANCISCO (MarketWatch) -- Akamai Technologies Inc.
AKAM, +2.33%
late Thursday reported third-quarter sales increased 47%, but net income fell nearly 95%. The Cambridge, Mass.-based company, which provides Internet delivery services for Web sites and corporations, reported profit of $14 million, or 8 cents a share, compared to $272 million, boosted by a one-time tax gain, or $1.71 a share from a year ago. Akamai's sales in the third-quarter rose 47% to $111.5 million compared to the $75 million a year ago.

Digitas quarterly earnings fall

(4:59 PM ET) SAN FRANCISCO (MarketWatch) -- Digitas Inc.
DTAS
after Thursday's closing bell said third-quarter net earnings fell to $6.19 million, or 7 cents a share, from $7.96 million, or 8 cents a share, in the same quarter last year, as expenses rose. Excluding amortization of intangible assets, among other items, the Boston-based provider of marketing services said earnings were 13 cents a share. Analysts polled by Thomson First Call had expected per-share earnings of 12 cents. Revenue rose 40% to $187.4 million from $134.3 million, with pass-through revenue almost doubling from last year. Fee revenue for the period was $95.6 million. The company sees fourth-quarter per-share net earnings of 8 cents to 10 cents, or 12 cents to 14 cents on an adjusted basis, on fee revenue of $94 million to $97 million. For the 2006, Digitas expects per-share net earnings of 44 cents to 46 cents, or 59 cents to 61 cents on an adjusted basis, on fee revenue of $387 million to $390 million.

Deckers Outdoor quarterly profit rises 30%; raises forecast

(4:57 PM ET) SAN FRANCISCO (MarketWatch) -- Deckers Outdoor Corp.
DECK, +1.86%
after Thursday's closing bell reported third-quarter net earnings of $10.6 million, or 83 cents a share, up 30% from $8.15 million, or 63 cents a share, during the year-ago period. The Goleta, Calif.-based footwear company posted revenue of $82.3 million vs. $69.2 million. Analysts polled by Thomson First Call had forecast third-quarter earnings of 54 cents a share on revenue of $74 million. Additionally, Deckers said it now expects fourth-quarter per-share earnings of $1.27 to $1.30 on revenue of $107 million to $110 million. The company had previously forecast per-share earnings of $1.23 to $1.26 on revenue of $103 million to $106 million. For 2006, Deckers said it now sees per-share earnings of $2.75 to $2.78 on revenue of $287 million to $290 million. The company had previously expected earnings of $2.39 to $2.45 a share on revenue of $272 million to $278 million for the year.

Avid Technology swings to quarterly income; charges fall

(4:50 PM ET) SAN FRANCISCO (MarketWatch) -- Avid Technology Inc.
AVID, +3.20%
after Thursday's closing bell said it swung to third-quarter net income, as charges fell and revenue gained, of $3.59 million, or 8 cents a share. During the same period in the prior year, the net loss was $17.8 million, or 46 cents a share. Avid said quarterly revenue rose to $231.2 million from $204.4 million in the prior year, while Wall Street expected $225 million.

Genworth quarterly net slips; results miss analyst estimates

(4:49 PM ET) SAN FRANCISCO (MarketWatch) -- Genworth Financial
GNW, -0.85%
said late Thursday that third-quarter net income came in at $304 million, or 65 cents a share, down slightly from a year earlier when the life insurer made $307 million, or 64 cents a share. Operating income, which excludes after-tax net investment gains and losses, was $307 million, or 66 cents a share, Genworth reported. Operating profit included 2 cents a share from bond calls, commercial mortgage loan prepayments and limited partnership earnings, the insurer added. Genworth was expected to make 70 cents a share, according to the average estimate of 18 analysts in a Thomson First Call survey.

Chesapeake Energy profit soars on production gains

(4:44 PM ET) SAN FRANCISCO (MarketWatch) -- Chesapeake Energy Corp.
CHK, -3.46%
reported late Thursday third-quarter net income of $548 million, or $1.13 cents a share, up from $177 million, or 43 cents, a year ago. Revenue for the three months ended Sept. 30 rose to $1.93 billion from $1.08 billion. Analysts surveyed by Thomson First Call had expected the Oklahoma City, Okla.-based natural gas producer to post earnings of 72 cents a share on $1.47 billion in revenue. Shares of the Oklahoma City, Okla.-based company closed ahead of the report at $32.05, a 1.1% gain for the day.

Chesapeake Energy profit soars on production gains

(4:44 PM ET) SAN FRANCISCO (MarketWatch) -- Chesapeake Energy Corp.
CHK, -3.46%
reported late Thursday third-quarter net income of $548 million, or $1.13 cents a share, up from $177 million, or 43 cents, a year ago. Revenue for the three months ended Sept. 30 rose to $1.93 billion from $1.08 billion. Analysts surveyed by Thomson First Call had expected the Oklahoma City, Okla.-based natural gas producer to post earnings of 72 cents a share on $1.47 billion in revenue. Shares of the Oklahoma City, Okla.-based company closed ahead of the report at $32.05, a 1.1% gain for the day.

CORRECT: UST Inc. profit falls 11%, changes 2006 outlook

(4:42 PM ET) NEW YORK (MarketWatch) -- UST Inc.
UST, +1.15%
on Thursday said third-quarter net income fell 11% from the year-earlier quarter due to investments to boost its premium brands. The Greenwich, Conn.-based tobacco company's net income fell to $118.1 million, or 73 cents a share, from $132.2 million, or 80 cents, the year earlier. Earnings from continuing operations were 71 cents a share compared with 80 cents. Net sales rose to $458.65 million from $456.83 million. Analysts polled by Thomson First Call on average expected earnings of 76 cents on sales of $458.95 million. UST also changed its expectations for full-year earnings to a range of $3.02 to $3.07 per share, with a target of $3.04, from its previous forecast range of $3.02 to $3.11 per share, and a target of $3.07. The altered outlook, UST said, is due to restructuring charges linked to its cost-savings initiatives and the impact of discontinued operations, but includes a 6-cent charge that results in an overall raising of its forecast, the company said. Shares of UST closed Wednesday at $56.83, down 6 cents. (Corrects to say 2006 outlook raised, not lowered.)

Hartford quarterly net rises 41%; insurer lifts forecast

(4:42 PM ET) SAN FRANCISCO (MarketWatch) -- Hartford Financial Services
HIG, -0.94%
said late Thursday that third-quarter net income came in at $758 million, or $2.39 a share, up 41% from a year earlier, when the insurer made $539 million, or $1.76 a share. Core earnings, which excludes certain items, came in at $727 million, or $2.30 a share, Hartford reported. The company was expected to make $2.25 a share, according to the average estimate of 22 analysts in a Thomson First Call survey. Hartford lifted its forecast for full-year core earnings to between $8.75 and $8.95 a share from a previous range of $8.50 to $8.80 a share.

Vertex Pharmaceuticals quarterly loss narrows; revenue gains

(4:40 PM ET) SAN FRANCISCO (MarketWatch) -- Vertex Pharmaceuticals Inc.
VRTX, -0.34%
after Thursday's closing bell said the third-quarter net loss narrowed, as revenue rose, to $51.8 million, or 46 cents a share, from a net loss of $79.6 million, or 84 cents a share, during the same period in the prior year. Before items, the quarterly per-share loss was 42 cents, compared with 43 cents in the prior year. Analysts polled by Thomson First Call had expected a per-share loss of 48 cents. Vertex said quarterly revenue rose to $53.3 million from $36.2 million in the prior year, while analysts had expected $65 million. The company sees a full-year loss of $222 million to $237 million, or $180 million to $195 million, on a pro forma basis.

On Semi profit triples; sales outlook soft

(4:37 PM ET) SAN FRANCISCO (MarketWatch) -- On Semiconductor Corp.
ONNN
said late Thursday its quarterly net income more than tripled from a year ago as it sold more chips used in a range of consumer electronic devices. On Semi reported third-quarter net income of $76.8 million, or 23 cents a share, up from $23.5 million, or 6 cents a share, in last year's period. Sales rose 34% to $420.9 million. The results bested Wall Street's expectations calling for revenue of $410 million and earnings of 20 cents a share, according to Thomson First Call. Despite those results, On Semi offered a softer sales outlook. It said fourth-quarter sales would be between $390 million and $400 million and average selling prices would slip by 1% from the three months ended Sept. 29. Phoenix.-based On Semi makes audio and power management chips used in mobile phones, cars, and portable electronics.

McAfee quarterly earnings rise

(4:33 PM ET) SAN FRANCISCO (MarketWatch) -- McAfee Inc.
MFE, +0.49%
after Thursday's closing bell reported third-quarter net earnings of $30.3 million, or 19 cents a share, compared with $22.5 million, or 13 cents a share, in the same period last year, as sales rose. Excluding stock-based compensation charges, among other items, the Santa Clara, Calif.-based maker of computer security software said earnings were 36 cents a share. Analysts polled by Thomson First Call had expected per-share earnings of 30 cents. Revenue rose 14% to $287.8 million from $252.9 million. Analysts had forecast revenue of $276 million. McAfee expects fourth-quarter net revenue of $275 million to $295 million. The company sees per-share net earnings of 16 cents to 20 cents, or 31 cents to 35 cents excluding items. McAfee added that its third-quarter results are preliminary because the company will need to restate its historical financial statements to record additional non-cash charges for stock-based compensation expense over a ten year period. The company expects that restatement to result in non-cash charges of $100 million to $150 million.

Chubb quarterly net income jumps; insurer lifts forecast

(4:32 PM ET) SAN FRANCISCO (MarketWatch) -- Chubb Corp.
CB, -0.32%
said late Thursday that third-quarter net income came in at $604 million, or $1.43 a share. That was more than double the same period last year when the property and casualty insurer made $246 million, or 60 cents a share. Operating income, which excludes after-tax realized investment gains and losses, climbed to $579 million, or $1.37 a share, Chubb reported. The company was expected to make $1.26 a share, according to the average estimate of 22 analyst in a Thomson First Call survey. The insurer lifted its forecast for full-year operating profit to $5.40 to $5.50 a share, from an earlier estimate of $4.90 to $5.10 a share.

Sigma-Aldrich net gains 7%, raises full-year guidance

(4:31 PM ET) SAN FRANCISCO (MarketWatch) -- Sigma-Aldrich
SIAL, -0.04%
late Thursday said third-quarter earnings rose 7% to $68.4 million, or $1.02 a share, for the three months ending Sept. 30. The St. Louis, Mo.-based life sciences company's sales gained 7% to $441.4 million. Analysts polled by Thomson First Call were expecting earnings of 97 cents a share on $445 million in revenue. Net income in the most recent quarter included a 7 cents a share tax benefit that lowered its tax rate. Sigma-Aldrich raised its full-year '06 forecast by a nickel to $3.95-$4.05, reflecting the lower tax rate and 16 cents in stock options expense. Shares closed down 2% to $75.37 before the report.

PerkinElmer net dips while sales rise

(4:28 PM ET) LOS ANGELES (MarketWatch) -- PerkinElmer Inc.
PKI, +2.92%
said Thursday that third-quarter net income was $29.8 million, or 24 cents a share, compared with $31.8 million, or 24 cents a share, for the same period a year ago. Sales were $386.9 million vs. last year's $360 million. Due to amoritization and stock-option expensing, results took a hit of 7 cents a share, bringing adjusted earnings to 30 cents a share. Analysts polled by Thomson First Call expected earnings of 26 cents a share for the Boston-based medical products firm. The company said it now expects adjusted fourth-quarter earnings to reach 38 cents to 40 cents a share, within range of the First Call estimate of 39 cents. PerkinElmer shares ended the day up 27 cents, or 1.4%, to $20.29.

Invitrogen swings to quarterly loss on impairment charge

(4:28 PM ET) SAN FRANCISCO (MarketWatch) -- Invitrogen Corp.
IVGN
after Thursday's closing bell swung to a third-quarter net loss on a one-time charge. The Carlsbad, Calif.-based provider of products and services used in genetic research and drug production said it lost $129.8 million, or $2.53 a share, in the quarter ended Sept. 30. Last year, Invitrogen made $23.9 million, or 42 cents a share. The latest quarterly results included a goodwill impairment charge of $2.85 a share and 15 cents a share for stock options expensing. Excluding one-time items, Invitrogen posted a profit of 87 cents a share. Revenue rose to $311 million from $289.6 million. Analysts, on average, had been looking for per-share earnings of 78 cents and revenue of $311 million. Invitrogen also said it's executing plans to refocus its business on areas where either science or its brand can "provide meaningful differentiation."

CORRECT: Sun Micro cuts loss to $56 million

(4:27 PM ET) SAN FRANCISCO (MarketWatch) -- Sun Microsystems Inc.
SUNW
on Thursday reported a fiscal first-quarter loss of $56 million, or 2 cents a share. The company cut its loss almost 55% from the same period a year ago. Revenue totaled $ 3.19 billion compared to $2.73 billion in the year-ago quarter. Excluding one-time items and charges, Sun would have lost a penny a share. By that measure, the company beat the estimates of analysts surveyed by Thomson First Call, who forecast the computer server and software maker to lose 4 cents a share on revenue of $3.2 billion. (An earlier version of this item listed the incorrect consensus analyst loss forecast.)

Federated Investors quarterly income drops; revenue rises

(4:22 PM ET) SAN FRANCISCO (MarketWatch) -- Federated Investors Inc.
FII, -1.06%
after Thursday's closing bell said third-quarter net income fell to $45.6 million, or 43 cents a share, from $63.7 million, or 59 cents a share, during the same period in the prior year that included a 14-cent-per-share insurance reimbursement. Analysts polled by Thomson First Call had expected a per-share result of 45 cents. The investment manager said quarterly revenue rose to $243.9 million from $238 million in the prior year.

Microsoft profit, revenue both rise 11% to top expectations

(4:19 PM ET) LOS ANGELES (MarketWatch) -- Microsoft Corp.
MSFT, -0.38%
the world's largest software company, late Thursday said both its quarterly profit and revenue rose 11% to top expectations. Microsoft's fiscal first-quarter profit increased to $3.48 billion, or 35 cents a share, from $3.14 billion, or 29 cents a share. Revenue for the period, ended Sept. 30, increased to $10.81 billion from $9.74 billion. Wall Street analysts, on average, expected a profit of 31 cents a share on revenue of $10.75 billion, according to Thomson First Call. The Redmond, Wash., company that makes the ubiquitous Windows operating system and Office suite of applications adjusted its financial forecast for the current quarter, pushing out some $1.5 billion in revenue related to launch of Windows Vista and Office 2007 from the current fiscal second quarter to the following. The company's yearly outlook was roughly in line with analysts' estimates.

Wendy's quarterly profit dips; revenue rises 2.5%

(2:36 PM ET) SAN FRANCISO (MarketWatch) -- Wendy's International Inc.
WEN, +0.20%
on Thursday reported that third-quarter net earnings dipped to $72 million, or 61 cents a share, from $72.1 million, or 61 cents a share, last year. Revenue rose 2.5% to $623 million from $608.8 million. Analysts polled by Thomson First Call had forecast a per-share profit of 64 cents. The company said its results were impacted by a lower number of restaurants operating in the quarter compared with last year. Same-store sales increased 4.1% at Wendy's U.S. company-operated restaurants and 3.9% at its U.S. franchised restaurants. The Dublin, Ohio-based fast-food chain said it still expects to produce positive same-store sales in the fourth quarter of 2006, and for beef costs to be 4% lower than the same quarter last year. In addition, the company forecast 2007 operating income of $200 million to $210 million, and earnings before interest, taxes, depreciation and amortization of $330 million to $340 million.

Tim Hortons quarterly profit falls 22%

(2:18 PM ET) SAN FRANCISCO (MarketWatch) -- Tim Hortons Inc.
THI, -13.79%
(CA:THI)on Thursday reported third-quarter net earnings of C$51.8 million ($46.2 million), or 27 Canadian cents a share (24 cents), down 22% from C$66.3 million, or 41 Canadian cents a share, last year. There were 193.5 million shares outstanding in the quarter ended Sept. 30, 2006, compared with 160 million in the year-ago quarter. Analysts polled by Thomson First Call had forecast a per-share profit of 29 cents. Revenue at the Oakville, Ontario-based donuts and coffee chain climbed 7.1% to C$413.6 million from C$386.1 million. The company said same-store sales rose 5.9% in Canada and 9.2% in the U.S. Tim Hortons added that strong rent and royalties revenue in the quarter was offset by lower franchisee fee revenues associated with the timing of new store openings. The company opened 29 restaurants in the quarter, and said it expects to achieve its target of 180 to 200 store openings by the end of 2006. Tim Hortons shares rose 7 cents to $27.69 in Thursday afternoon trade.

Scotts Miracle-Gro quarterly loss widens; shares rise

(1:55 PM ET) SAN FRANCISCO (MarketWatch) -- Scotts Miracle-Gro Co.
SMG, -0.08%
shares climbed 9% to $50.20 in Thursday afternoon trade after the Marysville, Ohio-based lawn products company reported a fiscal fourth-quarter net loss of $39.4 million, or 59 cents a share, compared with a net loss of $8.4 million, or 13 cents a share, in the year-ago quarter. Excluding impairment, restructuring and other charges, Scotts Miracle-Gro reported adjusted income of $1.6 million, or 2 cents a share, vs. an adjusted loss of $700,000, or a penny a share, a year earlier. Revenue rose to $492.1 million from $408.2 million. Analysts polled by Thomson First Call had forecast a per-share loss of a penny. The company said it still expects net income in fiscal 2007 to grow in a range of 10% to 12%.

K-Swiss quarterly profit dips; shares rise

(12:46 PM ET) SAN FRANCISCO (MarketWatch) -- K-Swiss Inc.
KSWS
shares surged 12% to $36.02 in Thursday morning trade after the Westlake Village, Calif.-based footwear company reported third-quarter net earnings of $21 million, or 59 cents a share, down slightly from $21.1 million, or 59 cents a share, in the year-ago period. Revenue dipped to $133.1 million from $136.7 million last year. Analysts polled by Thomson First Call had forecast a per-share profit of 48 cents on revenue of $125.2 million. K-Swiss expects fourth-quarter earnings of 24 cents to 31 cents a share on revenue of $90 million to $95 million, and 2006 earnings of $2.11 to $2.17 a share on revenue of $497 million to $502 million.

Sun Life Financial quarterly profit climbs 26%

(12:38 PM ET) SAN FRANCISCO (MarketWatch) -- Sun Life Financial Inc.
SLF, -0.61%
(CA:SLF)on Thursday reported third-quarter net earnings of C$541 million ($481.7 million), or 94 Canadian cents a share (84 cents), up 26% from C$430 million, or 74 Canadian cents a share, in the year-ago period. Revenue at the Toronto-based financial services company climbed 20% to C$6.6 billion from C$5.5 billion. Return on equity rose to 14.4% in the quarter, up from 11.7%.

Actuate shares rise on third-quarter earnings report

(12:18 PM ET) SAN FRANCISCO (MarketWatch) -- Actuate Corp.
ACTU
shares rose 11% to $5.07 in Thursday afternoon trade after the South San Francisco, Calif.-based software company late Wednesday reported third-quarter net earnings of $2.7 million, or 4 cents a share, down from $3.74 million, or 6 cents a share, in the year-ago quarter. Excluding items, profit came in at $4.6 million, or 7 cents a share. Revenue rose to $32.1 million from $26.8 million. Analysts polled by Thomson First Call had forecast a per-share profit of 6 cents.

Harmonic shares surge on third-quarter results

(12:04 PM ET) SAN FRANCISCO (MarketWatch) -- Harmonic Inc.
HLIT, +0.17%
shares jumped 16% to $8.19 in Thursday morning trade after the Sunnyvale, Calif.-based provider of networking services reported third-quarter net earnings of $4.02 million, or 5 cents a share. Excluding items, profit came in at $7.5 million, or 10 cents a share. In the same quarter last year, the company posted a net loss of $2.89 million, or 4 cents a share. Revenue rose to $62.9 million from $61 million. Analysts polled by Thomson First Call had forecast a per-share profit of 4 cents on revenue of $62.8 million. Harmonic forecast fourth-quarter sales in a range of $67 to $72 million.

Fox-Pitt Kelton reiterates in-line rating on MBIA

(11:40 AM ET) NEW YORK (MarketWatch) -- Analyst Gary Ransom of Fox-Pitt Kelton said MBIA Inc.'s
MBI, -3.25%
earnings of $1.55 a share beat his estimate of $1.38 a share, boosted by refundings of 18 cents a share and gains in investment income. Adjusted direct premiums were down 10%, verses his target for growth of 26%. "The light production is basically a continuation of the same story as before, municipal issuance is declining, spreads remain narrow, competition from other monolines and from uninsured structures continues, and credit conditions overall appear relatively stable," he said. "It is not clear when growth might begin again, but we believe that the business is cyclical and at some point the condition will change for the better." The stock currently trades at 0.82 times adjusted book value, which continues to be inexpensive relative to its history, he said.

(11:17 AM ET) SAN FRANCISCO (MarketWatch) -- Luminex Corp.
LMNX, +1.06%
shares tumbled 18% to $16.75 in Thursday morning trade after the Austin, Texas-based provider of biological testing technologies reported third-quarter net earnings of $111,000, or breakeven a share. In the same quarter last year, the company reported a net loss of $657,000, or 2 cents a share. Revenue rose to $12.5 million from $10.8 million.

Pulte CEO: Housing market hasn't hit bottom yet

(10:58 AM ET) BOSTON (MarketWatch) -- Richard Dugas, chief executive of home builder Pulte Homes Inc.
PHM, +1.57%
during the company's quarterly earnings call Thursday said although some evidence points to flattening inventory and stabilization in some regions, management will wait for the trends to continue and to broaden before concluding the housing market has hit bottom. "Given our expectations that market conditions will remain challenges for the foreseeable future, we continue to throttle back, consistent with operating a slow demand environment," the CEO said. During the call, Pulte management said it cut just under 800 employees in the third quarter, and about 1,400 positions during the first nine months of 2006.

TeleTech third-quarter profit rises; shares jump

(10:47 AM ET) SAN FRANCISCO (MarketWatch) -- TeleTech Holdings Inc.
TTEC, +0.04%
shares jumped 20% to $18.91 in Thursday morning trade after the Englewood, Colo.-based outsourcing services provider late Wednesday reported third-quarter net earnings of $12.8 million, or 18 cents a share, up from $11.6 million, or 16 cents a share, in the year-ago period. Revenue rose to $303.8 million from $274.3 million. Analysts polled by Thomson First Call had forecast earnings of 13 cents a share on revenue of $310 million. The company expects its fourth-quarter operating margin to increase to between 7% and 8%, and forecast 2006 revenue growth of 11% to 12%.

Lyondell Chemical earnings gain on ethylene, refining sales

(10:19 AM ET) SAN FRANCISCO (MarketWatch) -- Lyondell Chemical Co.
LYO
on Thursday said net income rose to $57 million in the third quarter, or 22 cents a share, up from $10 million or 4 cents a share in the year-ago quarter. The Houston-based petrochemical company said the results include after-tax charges of $114 million related to an August 2006 refinery transaction and $69 million for the impairment of the net book value of a Lake Charles, La., ethylene facility. Sales gained 28% to $6.15 billion, boosted by results in its ethylene and refining divisions. Analysts were expecting 89 cents a share on revenue of $5.74 billion. Shares rose 3.5% to $27.54 in early trading.

CORRECT:NYSE Group profit surges

(9:51 AM ET) NEW YORK (MarketWatch) -- The NYSE Group Inc
NYX, +1.41%
parent of the New York Stock Exchange, said Thursday its third quarter profit more than doubled to $68 million, or 43 cents a share from $22 million, or 19 cents a share a year ago. Revenue in the quarter rose 33% to $602.9 million, compared to $452.4 million last year. Analysts polled by Thomson First Call had expected the company to earn 41 cents a share. (Corrects revenue figure for latest quarter.)

(9:37 AM ET) SAN FRANCISCO (MarketWatch)-- Shares of large Internet companies were trading mostly higher in early action Thursday. RealNetworks Inc.
RNWK, +0.86%
gained 1.3% after South Korean anti-trust regulators OKed Real's plan to buy phone ringback tone provider WiderThan Co. for $350 million. CNet Networks Inc.
CNET, -7.00%
added more than 1% after reporting debt holders are demanding it repay $125 million on an accelerated schedule, another fallout from its options backdating investigation. Among the bellwethers, Google Inc.
GOOG, -1.10%
and Yahoo Inc.
YHOO, -2.00%
were both trading up fractionally, a day after Bank of America resumed coverage of the two firms; rating Yahoo at a buy and noting a positive long-term outlook, while it views Google shares as undervalued and set a $597 price target. The Dow Jones Internet Index
DJIN_DJINET
and the technology-heavy Nasdaq Composite Index
$COMPQ
were both up in early action.

Franklin Resources profit rises 14%

(9:14 AM ET) BOSTON (MarketWatch) -- Asset manager Franklin Resources Inc.
BEN, -1.32%
Thursday said its fiscal fourth-quarter net income rose to $381.7 million, or $1.49 a share, from $334.5 million, or $1.28 a share in the previous year. The company said sales rose to $1.3 billion from $1.16 billion a year earlier. Analysts had expected profit of $347.3 million, or $1.35 a share. Franklin shares rose 1.2% to $109.46 during Wednesday's session.

Apache Corp. net income falls 6%

(9:06 AM ET) NEW YORK (MarketWatch) -- Apache Corp.
APA, -1.33%
said third-quarter earnings for the three months ended Sept. 30 fell 6% to $645.6 million, or $1.94 a share, from $686 million, or $2.05 a share in the year-ago period. Revenue increased slightly to $2.07 billion from $2.05 billion. Results from the latest quarter include a non-recurring gain of $174 million on the sale of assets in China; a $92 million, one-time prior-period adjustment reflecting increased tax rates in the U.K. and a $24 million negative adjustment related to foreign currency fluctuations. Analysts surveyed by Thomson First Call forecast earnings of $1.89 a share and revenue of $2.18 billion, on average. The Houston-based energy firm said it remains on track to achieve 10%-15% production growth this year. "We expect a strong finish to a record year in nearly every financial and operational aspect," the company said.

M/I Homes profit drops 39%

(9:00 AM ET) BOSTON (MarketWatch) -- M/I Homes Inc.
MHO, +0.97%
said Thursday its third-quarter net income fell to $15.2 million, or $1.08 a share, from $25.1 million, or $1.72 a share the prior year. The Columbus, Ohio-based home builder said quarterly net contracts plunged 51% to 571 from a record 1,163 in the year-ago quarter. Third-quarter results included after-tax charges of $2.6 million, or 18 cents a share, resulting from inventory impairment, deposit and pre-acquisition cost write-offs related to abandoned land transactions, and costs associated with workforce reductions, the company said. Three analysts polled by Thomson First Call had forecast earnings of $1.45 a share.

Lennox Int'l earnings decline

(8:49 AM ET) NEW YORK (MarketWatch) -- Lennox International Inc.
LII, +0.40%
said third-quarter earnings fell to $35.6 million, or 49 cents a share, from $55.1 million, or 76 cents a share, a year earlier. Excluding non-recurring items, earnings would have increased to $50 million, or 69 cents a share, from $49 million, or 68 cents a share, a year ago. Analysts surveyed by Thomson First Call had been expecting earnings of 67 cents a share, on average. Revenue increased to $1.01 billion from last year's $927.5 million, as weakness in the residential new construction market was offset by growth in its replacement businesses. Shares of the Dallas heating and air conditioning company closed Wednesday up 12 cents at $25.08.

NCR Corp. third-quarter profit $89 mln vs $222 mln

(8:48 AM ET) NEW YORK (MarketWatch) -- NCR Corp. [s; ncr] Thursday reported third-quarter earnings of $89 million, or 49 cents a share, down from a year-ago profit of $222 million, or $1.18 a share. The latest results included $7 million, or 3 cents a share, in stock option expense, while the year-ago performance reflects a tax benefit gain of $142 million, or 76 cents a share. Revenue rose in the latest three months to $1.52 billion from $1.5 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 43 cents a share in the September period. Looking ahead, the Dayton, Ohio-based data warehouse and retailing system products said it now expects earnings of $1.90 to $1.95 a share in 2006. This view includes 10 cents a share in stock option expense and 4 cents a share in costs from a customer services early retirement program. Wall Street's current consensus estimate is for a profit of $1.90 a share in fiscal 2006. The stock closed Wednesday at $39.38, up 0.7%.

ProLogis FFO rises above expectations

(8:47 AM ET) BOSTON (MarketWatch) -- Warehouse and distribution REIT ProLogis
PLD, +1.02%
Thursday said funds from operations, a key metric used by analysts to measure financial performance, rose to 79 cents a share from 74 cents the previous year. Analysts surveyed by Thomson First Call had seen, on average, FFO of 77 cents a share. ProLogis said third-quarter FFO included a 3 cents a share charge for its portion of expenses related to the IPO of ProLogis European Properties, while last year's results included 4 cents a share of merger-integration charges. The REIT said it sees FFO between $3.80 and $4 for 2007, above the consensus estimate of $3.51 a share.

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